Saturday, November 19, 2011

Our liking to fiddle with markets

Paper cuttingWhen I visited the Indra Gandhi museum in New Delhi I took this picture. Its been there on my machine but until today I didn't bother to read the content of this news paper cutting.  Interestingly its a news item on Ceylon's one time quest for a fully nationalized import and export industry.

Interestingly, at that time in history Ceylon has been powerful enough to make it to the headlines of the "The Times of India" with an Economic related decision.

Ironically when we fiddle with markets now, let alone the headlines of Indian national news papers, it doesn't even make it to the business pages. Or is it that we had learnt our lessons and no longer fiddle with the free market?! ;)

On a different note, two of my pals were debating on "Revival of Underperforming Enterprises and underutilized Assets Act", which was passed recently. One said, its simple, If I had given you a piece of land to cultivate paddy and if you are not using it, or not utilizing it to the fullest potential. In order to counter the opportunity cost of it I would want to take it back, its the same the government is doing, so its not wrong". The other asked, How do you define 'under performing and under utilized assets '?.   In defense "Its only the obvious ones". The other hit back "Lets take over the house by the lake and start a paddy field - that's place where Gods who waste tax payers money reside". Other friend didn't want to argue on that, although they had two contrasting view points they agreed on this. Unity in diversity - we owe it to them!

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